September 2, 2016 / 11:22 AM / in a year

BUZZ-Lululemon Athletica Inc: On track for biggest pct drop since Feb

** Canadian yoga wear retailer’s shares down 8.5 pct at $70.15 premarket, on track for biggest pct loss since Feb. 8 after same-store sales miss estimates

** Canaccord analysts cut PT to $65 from $70, while maintaining “hold” rating

** “With the stock at a healthy 32x PE (in the next 12 months) we see risk skewed to the downside,” Canaccord analysts write in note

** Q2 sales online and at stores open at least a year rose 5 pct, excluding changes in exchange rates. Analysts polled by research firm Consensus Metrix had expected a 5.9 pct increase

** 19 of 33 brokerages rate stock “buy” or higher, 9 “hold” and 5 “sell” or lower; median PT $78

** Up to Thursday’s close, stock had risen 46 pct this year

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